Disc Medicine Reports First Quarter 2023 Financial Results and Provides Business Update Two ongoing Phase 2 studies of bitopertin in EPP; initial safety and efficacy data from open-label BEACON trial to be presented at t

Disc Medicine Reports First Quarter 2023 Financial Results and Provides Business Update

WATERTOWN, Mass. (May 15, 2023) Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage biopharmaceutical company focused on the

discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today reported financial results for the first quarter ending March 31, 2023 and provided an update on recent program

and corporate developments.

We have had an excellent start to 2023 with each of our development programs

on-track; multiple clinical studies ongoing, including new indications such as CKD anemia and Diamond-Blackfan anemia; and growing our pipeline by in-licensing a third, Phase-1 ready program, said John Quisel, J.D., Ph.D., President and Chief Executive Officer of Disc. We are positioned to deliver a series of important catalysts across our portfolio through the rest of

2023 and into next year, beginning with the presentation of initial data from the BEACON study at EHA.

Recent Business Highlights and

Upcoming Milestones:

Bitopertin: GlyT1 Inhibitor (Heme Synthesis Modulator)

Bitopertin is an investigational, clinical-stage, orally-administered inhibitor of glycine transporter 1 (GlyT1) that is designed to modulate heme

biosynthesis. GlyT1 is a membrane transporter expressed on developing red blood cells and is required to supply sufficient glycine for heme biosynthesis and support erythropoiesis. Disc is planning to develop bitopertin as a potential treatment for

a range of hematologic diseases including erythropoietic porphyrias, where it has potential to be the first disease-modifying therapy.

DISC-0974: Anti-Hemojuvelin Antibody

(Hepcidin Suppression)

DISC-0974 is an investigational anti-hemojuvelin monoclonal antibody (mAb) and is designed to suppress hepcidin production

and increase serum iron levels in patients suffering from anemia of inflammation.

MWTX-003: Anti-TMPRSS6 Antibody (Hepcidin

MWTX-003 is an investigational, anti-TMPRSS6 (Transmembrane Serine Protease 6, also known as Matriptase-2) monoclonal antibody designed to increase hepcidin production and suppress serum iron.

First Quarter 2023 Financial Results:

Disc Medicine (NASDAQ:IRON) is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for

patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a

wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis. For more information, please visit www.discmedicine.com.

Available Information

Disc announces material

information to the public about the Company, its products and services, and other matters through a variety of means, including filings with the U.S. Securities and Exchange Commission (SEC), press releases, public conference calls, webcasts and the

investor relations section of the Company website at ir.discmedicine.com in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations

under Regulation FD.

Disc Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but

not limited to, express or implied statements regarding Disc s expectations with respect to its AURORA Phase 2 and BEACON Phase 2 clinical studies of bitopertin, and anticipated study of bitopertin in Diamond-Blackfan Anemia, its Phase 1b/2

clinical study of DISC-0974 in NDD-CKD patients with anemia, its anticipated Phase 1 study of MWTX-003 and potential development of

MWTX-003 as a treatment for polycythemia vera and other indications, projected timelines for the initiation and completion of its clinical trials, anticipated timing of release of data, and other clinical

activities; Disc s business plans and objectives; and Disc s beliefs about operating expenses and that it will have capital to fund Disc into 2025. The use of words such as, but not limited to, believe, expect,

estimate, project, intend, future, potential, continue, may, might, plan, will, should, seek,

anticipate, or could or the negative of these terms and other similar words or expressions that are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of

future performance. Instead, they are based on Disc s current beliefs, expectations and assumptions regarding the future of Disc s business, future plans and strategies, clinical results and other future conditions. New risks and

uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Disc may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and investors should not place undue

reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements as a result of a number of material risks and uncertainties

including but not limited to: the adequacy of Disc s capital to support its future operations and its ability to successfully initiate and complete clinical trials; the nature, strategy and focus of Disc; the difficulty in predicting the time

and cost of development of Disc s product candidates; Disc s plans to research, develop and commercialize its current and future product candidates; the timing of initiation of Disc s planned preclinical studies and clinical trials;

the timing of the availability of data from Disc s clinical trials; Disc s ability to identify additional product candidates with significant commercial potential and to expand its pipeline in hematological diseases; the timing and

anticipated results of Disc s preclinical studies and clinical trials and the risk that the results of Disc s preclinical studies and clinical trials may not be predictive of future results in connection

with future studies or clinical trials and may not

support further development and marketing approval; the other risks and uncertainties described in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31,

2022 and other documents filed by Disc from time to time with the Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in Disc s subsequent filings with the Securities and

Exchange Commission. Any forward-looking statement speaks only as of the date on which it was made. None of Disc, nor its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement,

whether as result of new information, future events or otherwise, except as required by law.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share amounts)

CONDENSED CONSOLIDATED BALANCE SHEETS

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Investor Relations Contact

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